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Title: Reliability of individual valuations of public and private goods: Choice consistency, response time, and preference refinement

Author: Brown, Thomas C.; Kingsley, David; Peterson, George L.; Flores, Nicholas E.; Clarke, Andrea; Birjulin, Andrej

Date: 2008

Source: Journal of Public Economics. 92: 1595-1606.

Publication Series: Not categorized

Description: We examined the reliability of a large set of paired comparison value judgments involving public goods, private goods, and sums of money. As respondents progressed through a random sequence of paired choices they were each given, their response time decreased and they became more consistent, apparently fine-tuning their responses, suggesting that respondents tend to begin a hypothetical value exercise with relatively imprecise preferences and that experience in expressing preference helps reduce that imprecision. Reliability was greater for private than for public good choices, and greater for choices between a good and a monetary amount than for choices between two goods. However, the reliability for public good choices was only slightly lower than for the private goods.

Keywords: public goods, private goods, money, reliability

Publication Notes:

  • We recommend that you also print this page and attach it to the printout of the article, to retain the full citation information.
  • This article was written and prepared by U.S. Government employees on official time, and is therefore in the public domain.

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Brown, Thomas C.; Kingsley, David; Peterson, George L.; Flores, Nicholas E.; Clarke, Andrea; Birjulin, Andrej 2008. Reliability of individual valuations of public and private goods: Choice consistency, response time, and preference refinement. Journal of Public Economics. 92: 1595-1606.

 


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